𝐒𝐜𝐚𝐦 𝐀𝐥𝐞𝐫𝐭: 𝐏𝐥𝐞𝐚𝐬𝐞 𝐒𝐭𝐚𝐲 𝐕𝐢𝐠𝐢𝐥𝐚𝐧𝐭!

I have recently been informed that there may be individuals impersonating me online.

This is something I take very seriously, because trust is the foundation of what I do.

If you receive messages claiming to be from me, whether it’s about investments, trading opportunities, or requests for money, please take a moment to verify before responding.

For clarity:
- I do not solicit funds directly from individuals.
- I do not ask for personal banking details via private messages.
- And I do not approach people randomly with “guaranteed” investment opportunities.

If something feels off, it probably is.

Please only rely on my official channels, and if you are ever unsure, feel free to reach out to me directly to confirm.

Let’s all stay cautious and protect one another. Scams are becoming more sophisticated, but awareness is still our best line of defence.

Stay safe everyone.
~ Dan Chang C S

===
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Linkedin:
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InvestingNote:
https://www.investingnote.com/users/dan_chang

Is growth slowing… or is the market just getting more selective?

‌

“Growth stocks are facing selling pressure, and this is also linked to the performance of individual companies. Previously, some of these companies saw their share prices rise too quickly, without earnings keeping pace, and that is why the rally could not be sustained.”

~ Phillip Securities Trading Representative, Dan Chang C S

‌

This pretty much sums up how I see the market today.

On the surface, it looks like growth stocks are losing favour. But if you take a step back, it feels more like the market is simply becoming more discerning.

‌

With ongoing geopolitical tensions, like the situation in the Middle East and risks around the Strait of Hormuz, oil prices have been pushed higher, adding to inflation concerns. Naturally, that has made investors more cautious.

‌

At the same time, interest rates have stayed elevated, and there is still the (small) possibility of further hikes. That alone is enough to weigh on sentiment, especially for growth stocks.

‌

But beyond the macro story, I think part of the pressure on growth stocks is also internal. Some growth stocks saw their prices run up quite quickly, ahead of their actual earnings. When fundamentals do not catch up, the market eventually adjusts. And in today’s environment, that adjustment tends to happen faster.

‌

So it brings us back to something quite basic:

💎 Is the growth real?

💎 Is it supported by cash flow?

💎 Can it be sustained?

‌

From a portfolio perspective, growth and value are not opposites. The mix depends on your goals and risk appetite, there is no one-size-fits-all answer. What matters more is reviewing and adjusting along the way.

Closer to home on SGX, there are still pockets of strength. Names like AEM, UMS and Nanofilm, tied to the semiconductor and AI ecosystem, have continued to see solid demand and strong share price performance this year.

‌

So it is not that growth is gone, the market is just asking more from it.

‌

Appreciate the opportunity to share my thoughts, and really enjoyed how the piece was put together, clear, balanced, and relatable. Also grateful for the perspectives shared by fellow contributors.

‌

Many thanks to Zaobao Business Journalist, Tobby Siew for the feature.

‌

“成长股遭遇卖压，也与个别企业的表现相关。此前，部分这类企业的股价上涨过快，但业绩未同步跟上，所以涨势无法持久。”
~ 辉立证券股票经纪张爵兴

‌

这基本概括了我目前对市场的看法。

‌

表面上看，成长股似乎正在失宠。

‌

但如果退一步来看，更像是市场变得更加审慎和挑剔。

随着中东局势持续紧张，以及霍尔木兹海峡潜在风险推高油价，通胀压力随之上升，自然也让投资者更加谨慎。

‌

与此同时，利率维持在较高水平，甚至仍存在进一步上调的(小）可能性，这本身就足以压抑市场情绪，尤其是对成长股的影响更为明显。

‌

但除了宏观因素之外，我认为更重要的是要看更深层的变化。

‌

部分成长股的股价此前上涨过快，跑在业绩前面。当基本面未能跟上时，市场最终会作出调整。而在当前环境下，这种调整往往来得更快。

‌

所以问题其实回归到几个很基本的点：

💎 成长是否真实？

💎 是否有现金流作为支撑？

💎 企业是否能够在不过度依赖外部融资的情况下持续发展？

‌

从资产配置的角度来看，成长股与价值股并非对立。

如何分配，取决于个人的目标与风险承受能力，并不存在放诸四海皆准的答案。更重要的是，过程中要持续检视与调整。

‌

回到本地市场，成长板块中仍有一些亮点。

像 AEM、UMS 和纳峰科技（Nanofilm）这些与半导体及人工智能生态相关的公司，在需求支撑下，今年以来股价表现依然不俗。

‌

所以，并不是成长消失了，

‌

而是市场对成长的要求更高了。

‌

很感谢这次有机会分享我的看法，也很欣赏这篇文章的呈现方式，内容清晰、平衡且贴近投资者。也感谢其他受访者的观点，让讨论更加完整。

‌

特别感谢《联合早报》财经新闻记者萧维旸的采访与报道。

‌

#GrowthStocks #StockMarkets #Zaobao #danccs

‌

We’re seeing selective strength + fresh 1GT Bullish signals forming across energy and financials.

‌

The setups are getting cleaner, and momentum is starting to build.

‌

If you’re watching HK exposure via SGX SDRs, this is worth a look.

‌

👉 Read here:
https://joeychoy.beehiiv.com/p/not-all-hk-...

Hi Everyone!
‌
𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐧𝐞𝐰𝐬! 𝐎𝐮𝐫 𝐌𝐚𝐲 𝐍𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 𝐢𝐬 𝐨𝐮𝐭! 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐓𝐨𝐩 𝐒𝐭𝐨𝐜𝐤 𝐏𝐢𝐜𝐤 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐔𝐒 𝐚𝐧𝐝 𝐒𝐆 𝐌𝐚𝐫𝐤𝐞𝐭.
‌
Don't miss out on valuable insights for your portfolio.
‌
Check it out here>> https://joeychoy.beehiiv.com/p/may-2026-ne...
‌
Do let us know your feedback or give us a thumbs up if found it useful. 👍🏻 Thank you for your support and we hope to continue to value add to you.

𝐖𝐡𝐢𝐥𝐞 𝐦𝐨𝐬𝐭 𝐩𝐞𝐨𝐩𝐥𝐞 𝐚𝐫𝐞 𝐬𝐭𝐢𝐥𝐥 𝐰𝐚𝐢𝐭𝐢𝐧𝐠…𝐭𝐡𝐞𝐬𝐞 𝟔 𝐒𝐆 𝐭𝐞𝐜𝐡 𝐬𝐭𝐨𝐜𝐤𝐬 𝐚𝐫𝐞 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐦𝐨𝐯𝐢𝐧𝐠.🤫

Bullish signals triggered. Trying to push higher.

This is where opportunities usually start. I analyzed all 6 — you’ll want to see this.
▶️ Watch here: https://youtu.be/MxPf6wevTUA

The Singapore stock market concluded the final trading week of April with a focus on the first-quarter earnings results from the "Big Three" banks which attracted institutional net inflows into the financial sector reaching a three-week high. As of 4 May 2026, OCBC Bank is trading near its all-time highs following a strong rally in 2025 driven by strong robust wealth management earnings and capital return plans.

To learn more, Check out our latest Technical Insight on our YouTube channel (@sgsiasorg) at https://youtu.be/8fciLXGyJFA

Watch our Weekly Market Review every Monday at 12.30pm on YouTube!

Subscribe to SIAS mailing list for more investor related info: https://sias.org.sg/subscribe/

#Technicalinsight #MarketReview #StraitsTimesIndex #OCBC

This week on Weekly Market Review: Global markets kicked off May on a strong note, pushing to fresh highs on the back of strong US tech earnings, though the Fed’s signal of fewer rate cuts and rising oil prices continue to add uncertainty. Singapore’s STI held firm near the 5,000 level, supported by strong bank performance led by DBS, while investors watch upcoming earnings from UOB and OCBC alongside weaker DPU from Mapletree Industrial Trust.

Watch now on YouTube at https://youtu.be/TzeEyp1-37M

Subscribe to SIAS mailing list for more investor-related info: https://sias.org.sg/subscribe/

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

https://youtu.be/Lj_W1BLlxHY
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

https://youtu.be/Tuiy2Gq7pxo
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $SGX(S68.SI) $Singtel(Z74.SI)

https://www.youtube.com/live/cALWrd3H51E?s...
$DBS(D05.SI) $OCB5S(OCB5S.SI) $UOB(U11.SI) $SGX(S68.SI)

Technical Analysis (TA)

The chart shows a daily timeframe for $IFAST(AIY.SI), highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

Technical Analysis (TA)

The uploaded chart shows a daily timeframe for iFAST, highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Intrinsic Value Comparison (10 Years Horizon)

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.

👉 https://www.kennyloh.net/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

‌Technical Analysis (TA): The "Rising Wedge" Dilemma

$Keppel DC Reit(AJBU.SI) 

The chart highlights a Rising Wedge pattern, a classic technical formation that often signals a potential trend reversal or consolidation.

1. Pattern & Price Action

• The Wedge: Price is currently trading within converging upward trendlines. While it looks bullish because it's making higher highs and higher lows, a rising wedge is traditionally a bearish reversal pattern in a mature uptrend.


• Key Resistance: The upper boundary of the wedge sits around $2.50 – $2.55. Price recently touched $2.38 (as of April 23, 2026), showing some resistance as it nears the upper rail.


• Immediate Support: Watch the lower trendline, currently around $2.25. A breakdown below this line with high volume could trigger a sell-off toward the $2.10–$2.15 zone.

2. Moving Averages (MA Cross)

• The chart shows a cluster of moving averages (20, 50, and 200-day).


• Bullish Alignment: The shorter-term averages (pink/blue) are trending above the long-term green line (likely the 200-day MA), which is currently at $2.28. As long as the price stays above this "Golden Zone," the medium-term trend remains healthy.

3. Momentum Indicators

• RSI: Recent data suggests the RSI is hovering near 70, indicating the stock is approaching "overbought" territory. Expect some "mean reversion" or sideways consolidation soon.

Fundamental Analysis (FA): Stellar 1Q26 Performance

While the technicals suggest caution due to the wedge pattern, the fundamentals are currently exceptionally strong.

1. 1Q2026 Financial Highlights

• DPU Growth: Distribution Per Unit (DPU) for 1Q26 grew by 13.2% YoY to 2.833 cents. This beat most analyst expectations.


• Rental Reversions: The standout metric is a +50.3% rental reversion. This indicates massive demand for data center space, allowing the REIT to hike rents significantly as old leases expire.


• Occupancy: Remains robust at 95.6%, underpinned by long-term leases (WALE of 6.5 years).

2. Balance Sheet & Valuation

• Gearing: Healthy at 35.1%, well below the regulatory limit, providing room for further acquisitions.


• Cost of Debt: Dropped to 2.6% (down 20bps), which is impressive in the current interest rate environment.


• Yield: At the current price of $2.38, the forward dividend yield is approximately 4.4% – 4.8%.

3. Risks & Catalysts

• Catalysts: Potential tax transparency for SGP 7 & 8 and the possible recovery of rent arrears from Bluesea (China) could provide further DPU upside.


• Risks: Geopolitical tensions in the Middle East affecting energy costs (though the manager notes electricity is <3% of OPEX due to hedging).

Bottom Line: Keppel DC REIT is firing on all cylinders operationally. However, the chart shows the "easy money" from the recent rally might be over extended. Look for entry points near the 200-day MA or the bottom of the wedge.

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

Had a fantastic deep dive yesterday with Michelle Martin on MONEY FM 89.3, discussing the shifting landscape of Singapore REITs. As we move further into 2026, the strategy for S-REITs has evolved from simple "yield-chasing" to a sophisticated hunt for Alpha and resilience.

‌

Here are the three core themes we covered:

‌

1. 𝐃𝐢𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐨𝐫 𝐃𝐢𝐥𝐮𝐭𝐢𝐨𝐧? 𝐓𝐡𝐞 𝐅𝐢𝐫𝐬𝐭 𝐑𝐄𝐈𝐓 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 🏥
🟢 $First Reit(AW9U.SI)'s S$471.5M divestment of Indonesian assets is a masterclass in "de-risking."
🟢The Reality: Despite revenue growth, the IDR depreciated ~28% against the SGD over 5 years.
🟢The Move: Crystallizing a 2.1% premium to valuation to build a massive "war chest" (gearing plunging to 16.7%).
🟢Takeaway: Not all sales are exits—this is a strategic recalibration toward stable, developed markets like Japan and Australia.

‌

2. 𝐓𝐡𝐞 𝐌𝐢𝐝-𝐂𝐚𝐩 𝐀𝐥𝐩𝐡𝐚 𝐇𝐮𝐧𝐭 💎
🟢While the "Giant" REITs offer safety, the iEdge Next50 REITs are where the growth is hiding.
🟢Growth Gap: Mid-caps are projected to deliver 4.2% DPU growth—nearly 2.5x higher than large-caps.
🟢Valuation Edge: Buying at a 10-20% discount to NAV while enjoying yields of 7% to 9.5%.
🟢The Catalyst: With MAS/SGX liquidity support (EQDP), we are anticipating a liquidity-driven re-rating as institutional money flows into these undervalued gems.

$Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $OUEREIT(TS0U.SI) $UIBREIT(UIBU.SI) $Sabana Reit(M1GU.SI) $EliteUKREIT GBP(MXNU.SI) $UtdHampshReitUSD(ODBU.SI) 

‌

3. 𝐂𝐚𝐩𝐢𝐭𝐚𝐋𝐚𝐧𝐝 𝐀𝐬𝐜𝐞𝐧𝐝𝐚𝐬 𝐑𝐄𝐈𝐓 (𝐂𝐋𝐀𝐑): 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 + 𝐎𝐟𝐟𝐞𝐧𝐬𝐞 🏗️
🟢 $CapLand Ascendas REIT(A17U.SI)'s S$900M Equity Fund Raising isn't about survival; it’s about dominance in the "New Economy."
🟢Pivot to High Demand: Funding Data Centres in Osaka and Science Parks in Singapore.
🟢Investor Opportunity: The preferential offering at S$2.35 (a ~7.5% discount) allows unitholders to average down at a level 2 standard deviations below its 5-year P/NAV average.

‌

Bottom Line: The S-REIT market is bifurcating. Whether you are playing the defensive blue-chip game or hunting for mid-cap Alpha, execution and asset quality are the only metrics that matter this year.

‌

Did you catch the live show? The podcast link can be found here 👇

https://reitsavvy.com/insights/money-and-m...

‌

‌

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

On 14 Jan 2026, China regulators launched an antitrust probe into Trip .com Group under the Anti-Monopoly Law, alleging abuse of dominant market position.

👉 HK shares fell ~20% intraday on the news.

My Positioning

In my previous post, I shared that I caught the falling knife on Day 1.

👉 First entry: $Trip.com HK SDR 50to1(HTGD.SI) at 1.53

Now, I’m preparing for my second entry.

👉 Planned add: 1.37 – 1.38

💡 Why I’m Adding Again

1️⃣Regulatory Context — Bigger Picture

On 23 Mar 2026, Beijing regulators held admonition talks with 12 platform companies, including Trip .com Group and competitors like Meituan and Qunar, targeting “involution-style competition” (内卷) and pushing for better pricing transparency and platform practices, with requirements for rectification plans.

👉This suggests broader sector-wide regulatory tightening, rather than a Trip.com-specific crackdown.

2️⃣Fundamentals Remain Strong

FY2025 results (Feb 2026):

• Full-year revenue: RMB 62.4B      (+17% YoY)


• Q4 revenue: RMB 15.4B (+21% YoY)


• Net profit: RMB 33.4B (nearly      doubled YoY)

Q4 segment growth:

• Accommodation: +21%


• Transportation: +12%


• Packaged tours: +21%

👉 This is a sentiment + regulatory issue, not a demand problem.

3️⃣Overlooked Catalyst — China Inbound Tourism

China’s inbound tourism is accelerating:

• Inbound tourists: 154.5M (+17.1%      YoY)


• Tourism revenue: US$131.1B      (+39.2% YoY)


• Travel service exports: US$55.16B      (+49.1% YoY)

👉 Strong signal that global demand for China travel is returning 

👉 Trip.com Group is a direct beneficiary

🏦 Analyst View

JPMorgan Chase — Overweight | Target: HKD 600 (SDR S$1.95)

JPMorgan believes the market has mispriced Trip .com Group, viewing current headwinds — antitrust probe, AI disruption, oil prices, geopolitics — as temporary, not structural.

👉 Long-term profitability and market position remain intact.

Source: AAStocks Financial News, 23 Apr 2026

📈 My Technical View

After the 14 Jan crash, price briefly rebounded before trending lower, finding support at HKD 389.80 (SDR ~1.26) and consolidating for over a month. By 15 Apr, momentum started to build, with my General X trend-following indicator triggering a buy signal. As this is a second entry, I’m waiting for confirmation — a pullback to the 20 EMA followed by a rebound, with my planned entry at 1.37–1.38 (SDR).I will consider adding more if the SDR breaks above 1.40 (HKD 432.40).

Technical targets:
🎯 S$1.63 (HKD 500.50)
🎯 S$1.73 (HKD 531.50)
🎯 S$1.99 (HKD 613.00)

⚠️Exit if the price closes below 20 EMA for 2 consecutive days.

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

Last week market sentiment is turning up. Momentum getting stronger. Construction sector is moving.

My favorite, nothing compares to $Wee Hur(E3B.SI).

I have been following Wee Hur since 21 cents two years ago.
I rode the trend with my clients, monitoring it day in day out.

Today, Wee Hur is no longer just a small construction company.

Wee Hur is now part of the iEdge Singapore Next 50 Index

• It is among the next tier of large and liquid companies on SGX


• More visibility to institutional investors


• Potential inclusion in fund flows linked to EQDP initiatives and future ETFs

To me, it has two engines now:

🏗️Engine 1: Construction

• S$673m order book


• Visibility till around 2029


• Supported by strong project pipeline


• This gives the company multi year earnings visibility

🏢 Engine 2: Dormitory

• Pioneer Lodge expansion with +67% capacity


• +10,500 beds already completed in FY25


• Meaningful earnings uplift expected from FY26

This is important.

👉Recurring income
👉Rising dorm rents
👉More stable earnings profile

📊 Analyst Target Price:

Phillip Research: S$1.08
DBS Research: S$0.90

📉 Technical View:

Wee Hur price action is almost textbook for technical analysis.

It corrected significantly after forming a triple top around 0.925,
and came down to form a triple bottom near 0.64.

Last Friday, price broke above the 200EMA,
coinciding with DBS initiating Buy with target price 0.90.

My General X momentum trend following indicator also triggered a buy signal on Friday.

📌 My Trade Action

I initiated a position with an average price of 0.7333 on Friday

Target:

🎯 0.785
🎯 0.85
🎯 0.925

⚠️ Exit if the price closes below 20 EMA for 2 consecutive days

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘InvestSG’ on WhatsApp: https://wa.me/6590908871

The value unlock story in $Olam Group(VC2.SI) has just begun

Imagine a house valued at $182,000.

Then the owner sells just the garage — at a price far above its valuation.

Suddenly, the whole house is worth more… and there are still more rooms to sell.

That’s Olam today.

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Simple breakdown:

Olam is a global agri and food business long seen as “too complex.”

Management’s solution:

👉 break it up

👉 sell parts

👉unlock value

👉 return cash to shareholders

And they’re executing step by step.

━━━━━━━━━━━━━━━━━━

Starting point:

Latest NAV: ~182 cents per share (FY2025, audited)

━━━━━━━━━━━━━━━━━━

The key re-rating catalyst

Olam Agri sale to SALIC:

• ~3× book value

• Estimated gain: S$2.43B

👉 Adds ~63 cents per share

NAV moves:

182 → ~245 cents

From just ONE deal.

━━━━━━━━━━━━━━━━━━

More value unlocking ahead

🔹 ARISE — sold above book

🔹Mindsprint — retained

🔹Remaining assets — gradual divestment

🔹 ofi — potential listing (key upside)

Every sale above book = value unlocked

━━━━━━━━━━━━━━━━━━

Cash is flowing back

Since 2020:

• S$1.6B dividends

• S$81M buybacks

👉Future divestments likely returned via special dividends

━━━━━━━━━━━━━━━━━━

Why it matters now

Market still sees a complex conglomerate

But reality:

👉turning into a sum-of-parts story

🔹Current NAV: ~182 cents

🔹Post-Agri: ~245 cents (est.)

🔹Excludes full valuation of ofi

You’re not guessing.

You’re watching value unlock in real time.

━━━━━━━━━━━━━━━━━━

Technical View:

Olam has been in a long-term downtrend since Mar 2022 (peak ~1.94), but strong support at 0.81 held three times, forming a potential triple bottom. In the past two weeks, momentum picked up with real volume, and price broke the downtrend line — signalling a possible reversal. My General X system has also triggered a BUY signal on the weekly chart.

Next Target

🎯S$1.23

🎯S$1.94

⚠️ Exit if the price closes below 20 EMA for 2 consecutive days.

🌟My Trade Action

Initiated position on 23 & 24 Apr

Entry: 1.02 – 1.03

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871